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The PRI Reporting and Assessment

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Lorenzo Saà, Assessment and Training Manager - Principles for Responsible Investment Initiative - United Kingdom.

Lorenzo Saà, Assessment and Training Manager - Principles for Responsible Investment Initiative - United Kingdom.

Published in: Economy & Finance
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  • Lewis Gordon
  • Lewis Gordon
  • SAY TO LOOK AT PRI PRINCIPLE TEXT POSSIBLE ACTIONS ARE LISTED
  • Transcript

    • 1. Voluntary Guidelines – Greenwashing or Genuine TBLI Mobilization? Lorenzo Saà, Assessment & Training Manager Amsterdam, November 13, 2009
    • 2. What the PRI is …
      • a global collaborative investor network
      • voluntary and aspirational
        • grounded in fiduciary duty
      • process-oriented principles for integrating ESG issues into mainstream investment practices and across asset classes
      • a forum for discussion and concrete action on long-term risk issues and value drivers
      • a Secretariat providing practical guidance on emerging ESG issues and implementation support for signatories
    • 3. ESG-washing risk vs genuine mobilisation?
      • Quantity versus quality dilemma?
      • Is it a marketing tool to easily acquire a license to operate and avoid further regulation?
      • Information provided to the Secretariat is
          • Self-assessed;
          • confidential and
          • non audited
        • So is it useful or distortive?
    • 4. Advantages of a voluntary initiative…
      • Allows the initiative to reach out to those interested in knowing and implementing ESG aspects along a wide range of ESG experience levels .
      637 Total 123 Professional service partners 323 Investment managers 191 Asset owners Number of signatories
    • 5. Advantages of a voluntary initiative…
      • Enables the cooperation among players and sharing of ideas via many of the Secretariat services: more space for best practice sharing .
      • The Clearing house via its over 185 actions is an expression of this.
    • 6. Advantages of a voluntary initiative…
      • As it is Investor-led it provides a tool for the market “ to do their thing ” and leave the space to regulation where it is necessary.
    • 7.
      • 287 signatories responded
      • 98% of those required to complete survey, after “grace” year.
      • 100 of the 287 signatories participated in a verification process.
      • Five signatories were delisted.
      Addressing the Challenges: Yearly Assessment Process
    • 8. Assessment Outputs
    • 9. Report on Progress, eg. Principle 4
        • ESG is working its way into contracts but less so into incentives
    • 10. Report on Progress, eg. Guidance
    • 11. Individual Responses Published
    • 12. Assessment Outputs - Confidential Investment Manager X compared to All PRI IMs
    • 13. Signatory requirements change
        • Scaled mandatory fee by 2011, which will not be higher than today’s maximum voluntary contribution.
        • Maintain the Reporting and Assessment questionnaire requirement. This year there was a 98% response rate.
        • Minimum set of disclosure requirements by 2011 that:
          • Will not be commercial in nature;
          • Will not be implementation prescriptive.
        • Continue discussion on possibly introducing voluntary assurance mechanisms.
    • 14. Not alone
      • GRI – voluntary scheme on ESG on the corporate level: over 1,000 companies used GRI.
      • CDP – voluntary initiative that contacts over 3,500 corporations on behalf of 475 institutional investors (expecting around 2,000 responses).
      • Extractive Industries Transparency Initiative – voluntary and helps fight corruption.
      • Pharma Futures….. Etc.
    • 15. Lewis Gordon
      • In steps
      • What we have done
      • Looking back from the future
    • 16. Web: www.unpri.org General inquiries: [email_address] Assessment Specific inquiries : [email_address]

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